U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES: JANUARY 1998
This release contains sensitive economic data not to be released
before 8:30 a.m. Thursday, March 19, 1998
CB-98-39 Press Copy
FT-900 (98-01)
For information on goods contact: Bureau of the Census:
Haydn R. Mearkle (301) 457-2246
Richard M. Preuss (301) 457-2311
For information on services contact: Bureau of Economic Analysis:
Technical: Christopher Bach (202) 606-9545
Media: Larry Moran (202) 606-2649
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
January 1998
The Bureau of the Census and the Bureau of Economic Analysis, through
the Department of Commerce, announced today that total January exports of
$77.3 billion and imports of $89.3 billion resulted in a goods and
services deficit of $12.0 billion, $1.1 billion more than the $10.9
billion in December, revised. January exports were $2.1 billion less than
December exports of $79.4 billion. January imports were $0.9 billion less
than December imports of $90.2 billion.
In January, the goods deficit increased $1.1 billion from December to
$18.8 billion, and the services surplus was virtually unchanged at $6.8
billion. Exports of goods decreased to $56.3 billion from $58.4 billion,
and imports of goods decreased to $75.1 billion from $76.1 billion.
Exports of services of $21.0 billion were virtually unchanged, and imports
of services increased to $14.2 billion from $14.1 billion.
The December to January change in exports of goods reflected decreases
in capital goods of $2.5 billion (primarily civilian aircraft); other goods
($0.4 billion); and foods, feeds, and beverages ($0.3 billion). Increases
occurred in automotive vehicles, parts, and engines of $0.6 billion; and
consumer goods ($0.2 billion). Industrial supplies and materials were
virtually unchanged.
The December to January change in imports of goods reflected decreases
in capital goods of $0.7 billion (primarily civilian aircraft, computers, and
semiconductors); automotive vehicles, parts, and engines ($0.3 billion); industrial supplies and
materials ($0.2 billion); foods, feeds, and beverages ($0.1 billion); and
consumer goods ($0.1 billion). An increase occurred in other goods of $0.3
billion.
Note: Total goods are reported on a balance of payments basis;
commodity and country detail for goods are on a Census basis.
Definitions are explained in the notes starting on
page 26 of this release.
For the three months ending in January, exports of goods and services
averaged $78.4 billion, while imports of goods and services averaged $89.0
billion, resulting in an average trade deficit of $10.6 billion. For the
three months ending in December, the average trade deficit was $9.6
billion, reflecting average exports of $79.4 billion and average imports
of $89.0 billion.
Services exports in January were virtually the same as in December.
Small increases in several categories of services exports were largely
offset by small decreases in others.
Services imports increased $0.1 billion from December to January,
reflecting small increases in nearly all categories of services imports.
Selected Not Seasonally Adjusted Goods Details
The January figures showed surpluses, in billions of dollars, with
Australia $0.5 (for December $0.6), Brazil $0.3 ($0.8), Egypt $0.3 ($0.2),
Argentina $0.2 ($0.4), and Hong Kong $0.1 ($0.5). Deficits were recorded,
in billions of dollars, with Japan -$4.4 (-$5.1), China -$4.2 (-$3.9),
Canada -$1.7 (-$2.2), Taiwan -$1.1 (-$0.7), OPEC -$1.0 (-$0.3), Korea
-$0.9 (-$0.3), Mexico -$0.8 (-$0.6), Western Europe -$0.4 (-$2.5), and
Singapore -$0.3 (-$0.2).
Advanced technology products (ATP) exports were $14.1 billion in
January and imports were $11.5 billion, resulting in a surplus of $2.6
billion, $1.4 billion less than the December surplus of $4.0 billion.
January exports were $3.5 billion less than the $17.6 billion in December,
while imports were $2.1 billion less than the $13.6 billion in December.
Carry-over in January was $0.6 billion (1.1 percent) for exports and
$1.1 billion (1.6 percent) for imports. For December, revised export
carry-over was $0.3 billion (0.5 percent), revised down from $1.0 billion
(1.7 percent). For December, revised import carry-over was $0.2 billion
(0.3 percent), revised down from $1.3 billion (1.7 percent).
Seasonally Adjusted
Exhibit 1 International Trade in Goods and Services 4
Exhibit 2 Goods and Services Centered Three - Month Moving Averages 5
Exhibit 3 U.S. Services by Major Category--Exports 6
Exhibit 4 U.S. Services by Major Category--Imports 7
Exhibit 5 U.S. Trade in Goods 8
Exhibit 6 Exports and Imports of Goods by Principal End-Use Category 9
Exhibit 7 Exports of Goods by End-Use Category and Commodity 10
Exhibit 8 Imports of Goods by End-Use Category and Commodity 12
Exhibit 9 Petroleum and Non-Petroleum End-Use Category Totals 14
Exhibit 10 Exports and Imports of Goods by Principal End-Use
Category (Constant Dollars) 15
Exhibit 11 Exports, Imports, and Balance of Goods, Petroleum and
Non-Petroleum End-Use Commodity Category Totals
(Constant Dollars) 16
Not Seasonally Adjusted
Exhibit 12 U.S. Trade in Goods 17
Exhibit 13 Exports and Imports of Goods by Principal End-Use Category 18
Exhibit 14 Exports, Imports, and Balance of Goods by Selected
Countries and Areas - 19
Exhibit 15 Exports and Imports of Goods by Principal SITC
Commodity Groupings 21
Exhibit 16 Exports, Imports, and Balance of Advanced Technology
Products 23
Exhibit 17 Imports of Energy - Related Petroleum Products,
Including Crude Petroleum 24
Exhibit 18 Exports and Imports of Motor Vehicles and Parts By
Selected Countries 25
Information on Goods and Services 26
SOURCE: Report FT900 (CB-98-39), Bureau of the Census, Foreign Trade
Division, JANUARY 1998. For more information, contact Haydn R.
Mearkle (301-457-2246) or Richard M. Preuss (301-457-2311),
Foreign Trade Division.